Victor Palmieri Steps Up To The Plate Again

To members of the Turnaround Management Assn., Victor H. Palmieri is practically a deity. So when the renowned corporate workout specialist strode up to the podium at the TMA's annual meeting in early October, he knew he was among friends. He had intended to start his speech with a few of his favorite one-liners, such as: "There was a time when people thought being a turnaround expert meant you were a cross-dresser." Or "retired politicians turning around financial institutions is like Mike Tyson hiring on as counselor for battered wives." But Palmieri decided to depart from the script for his opening line, and it cracked the audience up. "Good morning, class," he ad-libbed. "We're going to start out with a tough one. It's called Crazy Eddie."

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